FX.co ★ Actual patterns. Technical analysis and trading recommendations

According to the chart of M5, #TSLA formed the Bullish Rectangle. The pattern indicates a trend continuation. The upper border is 430.80, the lower border is 425.83. The signal means that a long position should be opened above the upper border 430.80 of the Bullish Rectangle.

The Bullish pennant pattern is formed on the #TSLA M15 chart. It is a type of the continuation pattern. Supposedly, in case the price is fixed above the pennant’s high of 431.06, a further uptrend is possible.

The Double Top reversal pattern has been formed on #TSLA M15. Characteristics: the upper boundary 414.32; the lower boundary 393.43; the width of the pattern is 2144 points. Sell trades are better to be opened below the lower boundary 393.43 with a possible movements towards the 393.20 level.

The Double Top reversal pattern has been formed on #TSLA M5. Characteristics: the upper boundary 413.62; the lower boundary 406.20; the width of the pattern is 779 points. Sell trades are better to be opened below the lower boundary 406.20 with a possible movements towards the 406.05 level.

The Triple Top pattern has formed on the chart of the #TSLA M5. Features of the pattern: borders have an ascending angle; the lower line of the pattern has the coordinates 446.39/446.68 with the upper limit 453.13/451.11; the projection of the width is 674 points. The formation of the Triple Top figure most likely indicates a change in the trend from upward to downward. This means that in the event of a breakdown of the support level of 446.39, the price is most likely to continue the downward movement.

The Double Top pattern has been formed on #TSLA M5. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 438.22 is broken, the downward movement will continue.

On the chart of the #TSLA M5 trading instrument, the Triple Top pattern that signals a trend change has formed. It is possible that after formation of the third peak, the price will try to break through the resistance level 422.68, where we advise to open a trading position for sale. Take profit is the projection of the pattern’s width, which is 688 points.

The Double Bottom pattern has been formed on #TSLA M15; the upper boundary is 389.85; the lower boundary is 385.16. The width of the pattern is 485 points. In case of a break of the upper boundary 389.85, a change in the trend can be predicted where the width of the pattern will coincide with the distance to a possible take profit level.

The Bullish pennant signal – Trading instrument #TSLA M30, continuation pattern. Forecast: it is possible to set up a buy position above the pattern’s high of 411.78, with the prospect of the next move being a projection of the flagpole height.

The Bullish pennant signal – Trading instrument #TSLA M30, continuation pattern. Forecast: it is possible to set up a buy position above the pattern’s high of 411.78, with the prospect of the next move being a projection of the flagpole height.